📈✈️Defense and Energy Stocks Rise, Airline Stocks Drop

Stocks recovered on Monday, overcoming earlier pressures from the escalating Israel-Hamas conflict. Initially, major indexes dropped, but later the Dow Jones, S&P 500, and Nasdaq Composite rose by 0.5%, nearly 0.6%, and 0.4% respectively. The conflict saw an unexpected attack from Hamas, leading to significant casualties and Israel declaring war, impacting global markets. The geopolitical tensions prompted a brief surge in crude prices with WTI crude oil futures rising 4.3%, and a boost in defense and oil company stocks like Lockheed Martin and Exxon Mobil. Here are the stocks making the most move today: Northrop Grumman, L3Harris Technologies, and General Dynamics saw their stocks rise by 10.8%, 9.1%, and 8.4% respectively due to the escalating conflict between Palestine and Israel. Conversely, United Airlines, Delta Air Lines, and American Airlines saw their stocks decline by 5.3%, 4.5%, and 5.3% respectively, following service suspension to Israel due to recent attacks. Spotify faced a 2.5% decrease in share price after Redburn Atlantic's downgrade, attributing it to its new audiobook offer. Zscaler enjoyed a 4.2% stock rise post Barclays' upgrade citing growth opportunities in the SASE cybersecurity segment. Mirati Therapeutics' shares fell over 5% upon Bristol Myers Squibb's acquisition announcement. Tesla experienced a 2.3% stock dip due to a 10.9% sales decline in China last month. On Holding's stock rose over 1% following a positive Baird upgrade after a promising investor day.